ØABED2000 Corporate Finance Course description

Emnet gir innsikt i problemstillinger og metoder knyttet til bedriftens investerings- og finansieringsbeslutninger. Studentene lærer seg å sette opp de relevante kontantstrømmene og hvordan disse håndteres og verdsettes på en konsistent måte. Emnet gir videre et innblikk i kapitalmarkedene og markeder for ulike verdipapirer. Studentene får innsikt i verdsetting av ulike aktiva og håndtering av risiko. Studentene utvikler også sine ferdigheter i bruk av regneark med fokus på økonomiske modeller og analyser.

The course will include lectures and seminars. Students will be exposed to conceptual theories and tools that they will bridge to their previous entrepreneurial experiences. Students are expected to actively participate in discussions and to link theory and research to their own practice. The seminars are led by students and are based on teamwork. Through participation in lectures and seminars, the students will enhance their ability to present and argue for their own ideas and practices as well as to reflect and give feedback to fellow students.

Ingen

Kunnskap

Studenten

• kan gjøre rede for grunnleggende teorier relevante for å forstå finansmarkedenes oppgaver i en moderne markedsøkonomi
• kan gjøre rede for sentrale økonomiske begreper relevante for å forstå og beskrive investeringsprosjekter og finansieringsprosjekter som økonomisk aktivitet
• kan beskrive det teoretiske grunnlaget bak metoder som brukes for å lønnsomhetsberegne investeringsprosjekter
• kan gjøre rede for sammenhengen mellom metoder for å analysere lønnsomhetsberegning og eiernes økonomiske interesser
• kan beskrive ulike finansieringskilder og hvordan finansieringsstruktur påvirker avkastning og risiko
• kan gjøre rede for sentrale teorier og kontroverser innen finansiell økonomi
• har kjennskap til aktuell empiri innen finansmarkedene i Norge

Ferdigheter

Studenten kan

• budsjettere beslutningsrelevant kontantstrøm til totalkapitalen og egenkapitalen i investeringsprosjekter
• bruke finansmatematikk for å diskontere kontantstrømmer
• beregne risikojustert avkastningskrav ved hjelp av kapitalverdimodellen
• gjennomføre lønnsomhetsanalyser av investeringsprosjekter basert på nåverdi, internrente, modifisert internrente og tilbakebetalingsmetoden
• utføre sensitivitetsanalyser for å belyse risiko i investeringsprosjekter
• beregne økonomisk levetid for investeringsprosjekter
• beregne effektiv rente og kan anvende den i ulike finansieringsbeslutninger
• ta hensyn til skatt og inflasjon ved investerings- og finansieringsbeslutninger
• beregne forventet avkastning og avkastningens standardavvik for risikoutsatte prosjekter
• beregne forventet avkastning og avkastningens standardavvik for porteføljer, og kan finne minimum-varians porteføljen
• beregne Value-at-Risk for risikoutsatte prosjekter og porteføljer
• bruke regresjonsanalyse for å avdekke kredittrisiko
• bruke IKT-verktøy for å analysere lønnsomhet og risiko i investerings- og finansieringsprosjekter

Generell kompetanse

Studenten kan

• reflektere kritisk rundt etiske problemstillinger knyttet til investerings- og finansieringsprosjekter

Forelesninger og øvinger.

Coursework requirements from MALK 4000-401, 4000-402 and 4000-403 or equivalent must be approved to participate and submit coursework requirements in MALKL221.

Individuell skriftlig eksamen under tilsyn over 4 timer avholdes i slutten av semesteret.

Se egen hjelpemiddelliste som publiseres i god tid før eksamen.

Entrepreneurship is a relatively young field of research, where much of the theory development is inspired by research in sociology, psychology, economics and strategy. This course takes students through theoretical perspectives and research that have shaped the current understanding of innovation and entrepreneurial processes, with a particular focus on how such processes can contribute to value creation and societal change. Traditional models regarded innovation as a linear process that started with basic research and that over time contributed to new products that could be commercialised in a market.

Today, innovation processes are characterised as complex processes of co-creation, where interaction between actors with different approaches and framework conditions create new solutions through collaboration. In addition, research on entrepreneurship and innovation in the public sector is growing, broadening the scope from product to service. At the level of individuals and teams, entrepreneurial capacity is linked to an entrepreneurial mindset, while at the system level, entrepreneurial capacity is linked to the broader innovation ecosystem and the institutional framework of which the entrepreneur is a part. Students gain insight into theories of social change and into how individuals and institutions can work systematically to build and adapt to the innovation-driven ecosystems. This interaction between individual and system is important in understanding how innovation and entrepreneurial capacity are interlinked with the external environment.

The aim of the course is to provide a theoretical foundation that enables students to better understand innovation and entrepreneurial processes, accumulate knowledge, critically reflect, and to link their own entrepreneurial experiences to recent research. The course will help students to strengthen and better understand the theoretical foundation of their own own projects and of their own master's thesis in semester 4.

None.

After completing the course, the student should have the following overall learning outcomes defined in terms of knowledge, skills and general competence: 

Knowledge 

The student has 

• advanced knowledge of central research issues related to innovation and entrepreneurship, across disciplines, sectors and time 
• specialised knowledge about key driving forces of entrepreneurial activities and innovation
• specialised knowledge about prerequisites for innovative and entrepreneurship at individual, organisational and systemic levels
• advanced knowledge of perspectives, frameworks and concepts within strategic thinking, leadership and management central to entrepreneurship and innovation 
• specialised knowledge about necessary resources to develop and manage entrepreneurial teams and how to exploit the entrepreneurial ecosystem

Skills 

The student has 

• broad skills to identify, gather, and analyse relevant information, understand how this information is relevant for various aspects of entrepreneurial processes 
• specialised skills to identify and analyse information relevant for strategic management decisions related to entrepreneurship and innovation
• the ability to critically assess and evaluate research and generate insight from key findings 
• advanced skills to apply relevant scientific theories when studying the academic topics of entrepreneurship and innovation, and to independently analyse empirical data 

General competence

The student has 

• specialised competence to communicate scholarly issues through written text and oral presentation 
• in-depth competence to accumulate knowledge of the academic topics of entrepreneurship and innvation
• advanced competence to identify and gather relevant information for a scientific project in entrepreneurship and innovation
• comprehensive insight into the significance of sustainable and ethical dilemmas in innovation and entrepreneurial processes
• the ability to critically reflect on the role of innovation in societal development

After completing the course, the student should have the following overall learning outcomes defined in terms of knowledge, skills and general competence: 

Knowledge 

The student has 

• advanced knowledge of central research issues related to innovation and entrepreneurship, across disciplines, sectors and time 
• specialised knowledge about key driving forces of entrepreneurial activities and innovation
• specialised knowledge about prerequisites for innovative and entrepreneurial behaviour at individual, organisational and systemic levels
• advanced knowledge of perspectives, frameworks and concepts within strategic thinking, leadership and management central to entrepreneurship and innovation 
• specialised knowledge about necessary resources to develop and manage entrepreneurial teams and how to exploit the entrepreneurial ecosystem

Skills 

The student has 

• broad skills to identify, gather, and analyse relevant information, understand how this information is relevant for various aspects of entrepreneurial processes 
• specialised skills to identify and analyse information relevant for strategic management decisions 
• the ability to critically assess and evaluate research and generate insight from key findings 
• advanced skills to apply relevant scientific theories when studying an academic issue, and to independently analyse empirical data 

General competence

The student has 

• specialised competence to communicate scholarly issues through written text and oral presentation 
• in-depth competence to accumulate knowledge of the academic topics of entrepreneurship and innovation
• advanced competence to identify and gather relevant information for a scientific project in entrepreneurship and innovation
• comprehensive insight into the significance of sustainable and ethical dilemmas in innovation and entrepreneurial processes

the ability to critically reflect on the role of innovation in societal development